NNN-Leased Commercial
For Sale
Contact for pricing
651 South Federal Highway, Pompano Beach, FL 33062
The tenant operates under a 15-year triple-net agreement that began in 2019.
Property Size35,137 SF
Lot Size1.30 Acres
Price / SF$309.38
Days on Market9
Property Features for 651 South Federal Highway
General Information
Standard status
Active
Size
35,137 SF
Lot size
1.30 Acres
Property subtype
Retail
Additional Details
Gross Income
$462,000
Building Details
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License #NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 24 at 3:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
Investment Insights
Based on property information with market context.
Sundance Marine occupies approximately 35,137 rentable square feet on a 1.3-acre parcel. The property is leased under a 15-year triple-net agreement that started on 8/2/2019, with rent increases of 10.00% every 5 years.
The property is at 651 South Federal Highway in Pompano Beach, Florida.
The property is at 651 South Federal Highway in Pompano Beach, Florida.
Key Highlights
- Approximately 35,137 rentable square feet on a 1.3‑acre parcel
- 15‑year triple‑net lease commencing 8/2/2019
- Scheduled rent increases of 10.00% every 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$853,576
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$17,071,520
$17.1M
Cap Rate 7%
$12,193,943
$12.2M
Cap Rate 9%
$9,484,178
$9.5M
Market Conditions
NOI Build-Up for 35,137 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.26M $36.00/SF
− Vacancy
−$45.5K −$1.30/SF
EGI
$1.22M $34.70/SF
− OpEx
−$365.8K −$10.41/SF
NOI
$853.6K $24.29/SF
Area
Pompano Beach, FL
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$17,071,520
Cap Rate 7%
$12,193,943
Cap Rate 9%
$9,484,178
Alternative Uses
Best Use
Retail
$12.19M
$10.67M – $14.23M
NOI $853,576 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.70M
$11.99M – $15.99M
NOI $959,240 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 33062, FL
25,293
Population
23,059
Households
1.1
Avg Household Size
60
Median Age
48%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
6,485
Density / Sq Mi
$82,955
Median Household Income
$56,828
Median Earnings
$1,888
Median Rent
$511,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
NNN property - The tenant operates under a 15-year triple-net agreement that began in 2019.
Where is this nnn property located?
The property is located at 651 South Federal Highway Pompano Beach, FL.
What is the asking price?
The asking price for this property is $10,870,588.
What are key features of this property?
This property features: Approximately 35,137 rentable square feet on a 1.3‑acre parcel; 15‑year triple‑net lease commencing 8/2/2019; Scheduled rent increases of 10.00% every 5 years
